Since 1977, Jon Michael Probstein has assisted people and businesses in all matters. In accordance with the Rules of Professional Conduct, this may be deemed "Attorney Advertising". Nothing contained herein should be construed as legal advice. Admitted in New York and Massachusetts. Always consult a lawyer regarding any matter. Call 888 795-4555 or 212 972-3250 or 516 690-9780. Fax 212 202-6495. Email jmp@jmpattorney.com
Wednesday, September 21, 2016
ADVANCE FEES FOR LOAN MODIFICATION SERVICES
"Enacted in 2008, the Foreclosure Prevention and Responsible Lending Act is a comprehensive law that addresses various issues relating to the foreclosure crisis, including predatory subprime lending, the foreclosure process, foreclosure prevention, mortgage fraud, and loan modification scams. The law prohibits the upfront payment of fees by consumers to distressed property consultants. In December 2009, parts of the law were amended to limit exemptions from the scope of the law. Licensed attorneys who provide distressed property consulting services in the course of their legal practice are still exempt, but licensed attorneys who provide those services outside of their legal practice are not."
See http://www.preventloanscams.org/states/new-york/new-york-law-prohibits-advance-fees-for-loan-modification-services
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